Sutton Place Investors LLC Has $455,000 Position in The Coca-Cola Company (NYSE:KO)

Sutton Place Investors LLC reduced its stake in The Coca-Cola Company (NYSE:KO) by 49.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,143 shares of the company’s stock after selling 6,946 shares during the period. Sutton Place Investors LLC’s holdings in Coca-Cola were worth $455,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in KO. Norges Bank acquired a new stake in Coca-Cola during the 4th quarter worth approximately $2,808,056,000. Price T Rowe Associates Inc. MD boosted its position in Coca-Cola by 21.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock worth $3,016,023,000 after buying an additional 8,733,326 shares during the period. Fisher Asset Management LLC boosted its position in Coca-Cola by 11,138.6% during the 4th quarter. Fisher Asset Management LLC now owns 4,977,819 shares of the company’s stock worth $293,343,000 after buying an additional 4,933,527 shares during the period. Pathstone Holdings LLC acquired a new stake in Coca-Cola during the 4th quarter worth approximately $193,342,000. Finally, Putnam Investments LLC boosted its position in Coca-Cola by 32.8% during the 4th quarter. Putnam Investments LLC now owns 12,032,095 shares of the company’s stock worth $709,051,000 after buying an additional 2,973,234 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on KO shares. Royal Bank of Canada lifted their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Morgan Stanley raised their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. UBS Group raised their price target on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Truist Financial raised their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, Argus raised their price target on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $70.20.

Coca-Cola Trading Up 0.8 %

Shares of NYSE:KO traded up $0.53 during mid-day trading on Friday, hitting $69.18. The company had a trading volume of 12,651,230 shares, compared to its average volume of 13,051,887. The company has a market capitalization of $298.02 billion, a PE ratio of 27.67, a price-to-earnings-growth ratio of 3.80 and a beta of 0.59. The firm has a fifty day moving average price of $65.11 and a 200 day moving average price of $62.38. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The Coca-Cola Company has a one year low of $51.55 and a one year high of $69.67.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. The business had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. Coca-Cola’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.78 EPS. As a group, research analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a dividend of $0.485 per share. The ex-dividend date is Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a yield of 2.80%. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Insider Buying and Selling at Coca-Cola

In other news, insider Bruno Pietracci sold 38,653 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total value of $2,667,443.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Bruno Pietracci sold 38,653 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total value of $2,667,443.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Cola Co Coca sold 598,619 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the transaction, the insider now owns 1,883,546 shares of the company’s stock, valued at approximately $1,742,280,050. The disclosure for this sale can be found here. In the last 90 days, insiders sold 871,162 shares of company stock worth $571,697,887. 0.97% of the stock is owned by corporate insiders.

About Coca-Cola

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.